It’s 2011. Do You Know Where Your Marketing Budget Is?

A year and a half after the Great Recession “officially ended,” businesses are still dealing with shrinking budgets. Business-to-business (B2B) marketers have had to learn and adopt a mix of marketing tools. Long gone are the days of “if you build it, they will come” in regards to websites. In a business environment where marketers have to do more with less, reaching potential customers requires a diverse mix of traditional and digital channels.

All hope is not lost. Recently, Google commissioned Ipsos OTX to survey a wide variety of B2B marketing professionals. These 600 professionals, from a wide variety of company sizes and industries, helped Google shape the marketing outlook for 2011. At the heart of this survey, Google wanted to know how companies planned to spend their marketing dollars, where their money was going to be spent, and the challenges they faced. Google also wanted to know how companies would gauge their return on investment (ROI).

It’s clear that B2B marketers are getting behind the power of digital marketing. Google found that in 2010, digital marketing accounted for 34 percent of marketers’ budgets. E-mail marketing took up the most dollars with eight 8 percent, with search engine optimization, online content, and search engine marketing (paid placements) each taking 5 percent.

Digital marketing opportunities for B2B marketers have grown exponentially over the past few years, and will continue to grow well into the future. These digital channels offer companies the ability to go where their customers are and communicate with them on the customers’ terms. Think of it this way: each customer is on his or he own little island. Businesses can and should use digital channels to build bridges from the islands, bringing customers back to your company’s website or blog.

The willingness to increase budgets in the digital realm will make 2011 a year of increased digital activity. Companies are recognizing that search, mobile, social media, and video have a higher potential to bring in new leads, as well as keeping existing customers coming back for more.

At NewBase, we recommend a variety of digital marketing solutions to our clients. We help clients by making every aspect of their online presence measurable, targeted, and, most importantly, effective. To take a closer look at how digital marketing can help you reach your target markets and clients, please contact us: info@newbasellc.com.